VANCOUVER, April 16, 2019 /CNW/ - Goldplay Exploration
Ltd. (TSXV: GPLY, FRANKFURT: GPE,
OTCQB: GLYXF) ("Goldplay" or the "Company") is pleased to
announce that as a result of its ongoing surface exploration at the
San Marcial Project, initial channel samples indicate a new
gold (Au) discovery the Nava Target. The new gold discovery is
located approximately 1.5 kilometres to the west of the San Marcial
silver NI 43 101 resource (see News Release dated 7 February 2019), within an area currently
showing an extensive hydrothermal altered zone, 500 meters long x
100 m wide, hosting low sulphidation
intensive quartz veining and stockwork mineralization..
Recent and historical artisanal tunnels in the Nava Zone were
channel sampled by Goldplay, with assay results up to 10 grams per
tonne (g/t) Au received from a set of sub-parallel quartz low
sulphidation epithermal veins. Visible gold has been observed in
panned quartz vein samples from some of the channel samples in the
Nava Zone (Figure 1). The Nava Zone is one of the priority targets
that was identified by Goldplay earlier this year (see News Release
dated 18 January 2019) and is located
at the western extent of the Faisanes-Nava structural trend
("Faisanes – Nava Corridor") which leads from the San Marcial
silver resource (Figure 2).
The Nava Zone consists of a prominent hill with historical
artisanal workings, including numerous shallow pits. In addition to
the pits, three old tunnels, that follow a series of sub parallel
NE-SW trending quartz veins, were re-opened (Figure 3). Two of the
tunnels have been worked recently by artisanal miners, extracting
gold-rich quartz vein material. These two of the tunnels are on the
west side of the hill (T-003 and T-004), located approximately
30 m apart, with evidence of not only
quartz veining but also stockwork systems between them. The third
tunnel (T-005) is on the east side of the hill approximately
160 m away, along the NE strike of
the veins, with evidence of connection with T-004. Shallow pits are
scattered in the area between the tunnels, demonstrating potential
for definition of wide mineralized zones on surface.
Goldplay President and CEO Marcio
Fonseca commented, "Over the past months Goldplay has
actively explored the 1,250 ha of the San Marcial concession with
soil, rock chip and channel sampling, identifying and testing
targets that will add value to the San Marcial silver resource, by
expanding or discovering new mineralized zones. High grade gold
results with visible (panned) gold from epithermal quartz veins
within artisanal tunnels in the Nava Zone provide encouragement for
a gold mineralized low sulphidation epithermal system, just 1.5 km
west of the high-grade hydrothermal breccia-hosted silver resource.
The new Nava Zone gold discovery suggests that the San Marcial
Project has potential to be a significant multi-commodity play,
with proven occurrence of gold and silver mineralization together
with series of old artisanal mine workings on the Faisanes – Nava
Corridor. We are focused on additional sampling and trenching at
Nava to define the extent and
geometry of the gold mineralization, on surface, and identify
targets to follow up with drilling."
The Nava Zone consists of a set of NE trending mineralized
quartz veins, as well as a recently discovered new zone of intense
stockwork and associated alteration located approximately
300m to the west (Figure 3). The
veins are interpreted to be in a low sulphidation regime and hosted
within a porphyritic dacite and an andesitic tuff unit, in
proximity to the contact with an underlying epiclastic volcanic
package (Figure 4). The Nava Zone has no previous drilling.
Results range from 1.04 g/t up to 10.0 g/t Au from channel
sampling across quartz vein material in the tunnels (Table 1 and
Figure 4).
Channel samples from the Nava
tunnels were collected with a rock saw, typically perpendicular to
the strike of the major structures/veins being tested. The samples
were sent to the SGS de México, S.A. de C.V laboratory facilities
in Durango, Mexico where they were
analyzed for gold using fire assay, and multi-elements (including
silver) using ICP. Results from the other elements analyzed in the
laboratory process are currently being reviewed.
Follow up Exploration
The Company has placed a high priority on exploration activities
in the Nava Zone following this recent new gold discovery. Current
exploration activities include surface trenching to expose the
mineralized veins as well as local quartz stockwork material
(Figure 5), particularly in the main hill area in between trenches
T-003 and T-004 on the west, and T-005 on the east side. This area
has numerous historical surface pits. Geological mapping and
additional channel sampling will be carried out to also test for
extensions of the mineralization along strike to the NE and SW.
This current exploration also includes the stockwork zone located
300m to the west of the tunnels
(Figure 3). It is anticipated that the current activities will lead
to definition of drill targets to test the depth continuity of the
gold mineralization at Nava.
The Company continues to advance surface exploration at other
targets on the San Marcial Project as identified by soil and rock
sampling (News Release dated 18 January
2019). These targets, including Faisanes, are yet to be
drilled and are located in the vicinity of the NI 43 101
Mineral Resource. Goldplay has already received drilling
permits to advance a significant drilling program in 2019.
Qualified Person
The scientific and technical data contained in this news release
related to the San Marcial Project was reviewed and/or prepared
under the supervision of Marcio
Fonseca, P.Geo., a non-independent qualified person to
Goldplay Exploration Ltd. who is responsible to ensure that the
geological information contained in this news release is accurate
and who acts as "qualified person" under the National Instrument
43-101 Standards of Disclosure of Mineral Projects.
Quality Assurance Program and Quality Control Procedures
("QA/QC")
Goldplay has implemented QA/QC procedures which include
insertion of blank and standard samples in all sample lots sent to
SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and
assaying. For every sample with results above Ag >100 ppm (over
limits), these samples are submitted directly by SGS de
Mexico to SGS Canada Inc at
Burnaby, BC.
About Goldplay Exploration Ltd.
Goldplay owns a >250 sq. km exploration portfolio in the
historical Rosario Au-Ag Mining District, Sinaloa, Mexico. Goldplay's current
exploration focus includes surface exploration and drilling, to
expand resources at the San Marcial Project, as well as a follow up
exploration program at the El Habal Project.
The San Marcial land package consists of 1,250 ha, located south
of the La Rastra and Plomosas
historical mines and 20 km from the Company's 100% owned El Habal
Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive,
near-surface high-grade silver, lead and zinc project for which a
NI 43-101 resource estimate was completed by Goldplay in early
2019.
San Marcial exhibits significant exploration upside supported by
regional exploration programs completed by previous operators who
identified 14 exploration targets similar to San Marcial within its
100% Goldplay-owned concessions. Some of these exploration targets
consist of old shallow pits, caved shafts and historical
underground workings in areas with extensive hydrothermal
alteration, hosted by major regional structures.
The El Habal Project is a drilling stage project. The oxidized
gold mineralized zone outcrops along a series of rolling hills with
evidence of historical shallow underground mining along a 6 km long
prospective corridor. The El Habal Project is located near the
historical gold-silver Rosario Mine which reportedly operated for
over 250 years. Goldplay's team has over 30 years of experience
with senior roles in exploration, financing, and development in the
mining industry, including over ten years of extensive exploration
experience in the Rosario Mining District, leading to previous
successful discoveries. A current NI 43-101 report on the El Habal
Project is filed on SEDAR.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and
information that are based on the beliefs of management and reflect
the Company's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information. Such statements and information reflect the current
view of the Company. Risks and uncertainties may cause actual
results to differ materially from those contemplated in those
forward-looking statements and information. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration
Ltd.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this press release.
SOURCE Goldplay Exploration Ltd